"It's a first-look deal, which means Netflix gets first dibs but no obligation to bankroll every semi-royal whim," a source said.

Prince Harry and his wife, Meghan, announced Monday that their media company's partnership with Netflix has been extended with a multiyear, first-look deal.

Meghan Markle and Prince Harry have shared an update on their partnership with Netflix after it was reported that their previous deal wouldn't be renewed.